Sirius XM (NASDAQ:SIRI) Sets New 12-Month High – Should You Buy?

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $30.15 and last traded at $30.0920, with a volume of 1486398 shares. The stock had previously closed at $29.54.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Evercore set a $28.00 price target on shares of Sirius XM in a report on Friday, May 1st. Citigroup restated a “sell” rating and issued a $22.00 price target (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Rosenblatt Securities reduced their price objective on shares of Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Finally, Guggenheim reiterated a “buy” rating on shares of Sirius XM in a research report on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Sirius XM currently has an average rating of “Hold” and a consensus price target of $27.45.

Sirius XM Stock Up 1.9%

The firm has a 50 day moving average of $27.78 and a 200 day moving average of $23.92. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.65 and a beta of 0.95. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The company’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. As a group, sell-side analysts predict that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 3.5%. Sirius XM’s dividend payout ratio is currently 45.57%.

Insider Buying and Selling

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the sale, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.27% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors and hedge funds have recently made changes to their positions in SIRI. Berkshire Hathaway Inc raised its position in shares of Sirius XM by 4.2% during the third quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock worth $2,904,886,000 after purchasing an additional 5,030,425 shares during the period. Brighton Jones LLC acquired a new stake in Sirius XM in the 4th quarter valued at $622,000. JPMorgan Chase & Co. grew its position in Sirius XM by 52.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 339,511 shares of the company’s stock valued at $7,902,000 after purchasing an additional 117,250 shares during the period. Hsbc Holdings PLC increased its stake in Sirius XM by 858.4% during the 4th quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company’s stock valued at $41,726,000 after purchasing an additional 1,859,872 shares in the last quarter. Finally, Fieldview Capital Management LLC acquired a new position in Sirius XM during the third quarter worth $1,740,000. Institutional investors own 10.69% of the company’s stock.

About Sirius XM

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.